Hello Cami,

We’re a competitive bunch. It sometimes seems like the only way we know to measure how we’re doing is by comparing ourselves to others.
 

This is pointless behavior (since how other people are doing has nothing to do with how you are doing), but it’s what we do.

In fact, there was this crazy experiment conducted at Harvard.¹ Researchers gave participants two options:

• Option 1: Earn $50,000 per year while everyone else earns $25,000
• Option 2: Earn $100,000 per year while everyone else earn $200,000

Now let us be super clear here: people were told to assume that everything else (like the economy, the value of the dollar, etc.) stayed equal. So more money meant the option of buying nicer things.

Obviously, you’d pick Option 2, right? Of course, we would want more money, independent of what everyone else had.

But, it turns out, half of the people in the study didn’t want more money. They just wanted to have more than everybody else—even if it meant having less overall.

What do you make of that?

Of course, the only solution (and we say this so often it sounds like a broken record) is to get clear for ourselves about what the money's for.

Granted, that’s easier said than done.

But one way to do it is, every time you spend money, just ask yourself how doing so made you feel.

• Did that bring me the joy I had expected?
• Did it make me happier?
• Did it make my life better?
• Would I do it again?

Don’t use this as another opportunity to beat yourself up for bad behavior. Just notice. You can even keep a little notebook called Money Experiments. Spend money, notice how you feel, and write it down. And then, every once in a while, go back and read through the notebook and see what you learn.

That’s one way you can get a sense of how you’re doing financially. Comparing yourself to someone else is not.

Out-of-This-World Granola Bars

12 servings
 
Ingredients:

3 cups organic, old-fashioned oats
2 tablespoons oil (try avocado oil or melted coconut oil—either packs a punch!)
1 - 2 Tbsp. brown sugar (to taste)
1 - 2 Tbsp. maple syrup
¼ cup honey
1 tsp. vanilla
1 tsp. cinnamon
¼ - ½  tsp. nutmeg
1 - 1½ cups “extras” (dried fruit, walnuts, pecans, sunflower seeds, chocolate chips)
5 oz. Belgian dark chocolate 
 
Directions:

1. While the oven is preheating to 350°F, spread the oats evenly in a 9” x 13” pan. Put them in the oven and toast for about 15 minutes, stirring once or twice. Meanwhile, line a 9” x 9” pan with parchment paper or foil, leaving a few extra inches on each side so you can tent the bars after the granola mixture is transferred to the pan.
    
2. Heat the oil in a small saucepan and add the brown sugar, maple syrup, honey, vanilla, cinnamon, and nutmeg; bring it to a simmer over medium-high heat. Stir until the brown sugar dissolves, then turn off the burner.

3. Add the oats to a large bowl, pour the hot liquid over the oats, and stir to coat evenly. Stir in all of your “extras,” then add the mixture into the prepared pan.

4. Fold the extra parchment or foil over the top of the granola mixture and press to fill the pan and to flatten out the granola in the pan. Cool the bars for about an hour or put them in the freezer to cool faster.

5. Invert the pan to transfer cooled bars onto a cutting board and set aside the parchment or foil. Slice the bars to the desired size and spread them in a single layer onto the foil or parchment. Melt the chocolate in a small saucepan over low heat. Drizzle the chocolate over the bars with a spoon and enjoy!

[i] https://www.sugardishme.com/best-dang-granola-bars-ever-ever/

The Week on Wall Street

Rising recession fears and uncertainty in the bond and currency markets sent stocks to new 2022 lows last week.

The Dow Jones Industrial Average declined 2.92%, while the Standard & Poor’s 500 slumped 2.91%. The Nasdaq Composite index fell 2.69%. The MSCI EAFE index, which tracks developed overseas stock markets, lost 1.94%.^1,2,3

A Tumultuous Week

U.S. stocks were under pressure all week due to recession concerns and unsettled trading in the bond and currency markets. This stress followed economic steps out of the U.K. During the previous week, the Bank of England (BOE) raised interest rates, and its prime minister announced unfunded tax cuts that the markets interpreted as inflationary.

U.S. bond yields rose early last week, sending stocks lower until Wednesday’s rally following news that the BOE would buy U.K. government bonds. U.S. stocks resumed their descent the following two days to close out a disappointing week, month, and third quarter.

The Bank Of England Acts

Global bond and currency markets have been volatile recently due to global central bankers raising interest rates to combat inflation. Developments in the U.K. took center stage last week when the BOE announced it would be buying long-dated U.K. government bonds. Upending the financial markets was the previous week’s announcement of tax cuts by the country’s new prime minister, a step many investors viewed as counterproductive to the BOE’s inflation-fighting efforts.

The BOE’s decision to begin temporary purchases of government bonds was well-received by capital markets, sending U.K. bond yields lower and boosting U.K. stock prices in the immediate aftermath.

Disclosures and Footnotes

Any companies mentioned are for informational purposes only, and this should not be considered a solicitation for the purchase or sale of their securities. Any investment should be consistent with your objectives, time frame, and risk tolerance.

1 - https://www.albany.edu/~gs149266/Solnick%2520&%2520Hemenway%2520(1998)%2520-%2520Positional%2520concerns.pdf

Risk Disclosure: Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding the accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only. 

^{1. The Wall Street Journal, September 30, 2022}

^{2. The Wall Street Journal, September 30, 2022}

^{3. The Wall Street Journal, September 30, 2022}

^{Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.}

^{The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.}

^{The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.}

^{The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.}

^{U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.}

^{International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.}

^{Please consult your financial professional for additional information.}

^{This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security. Copyright 2022 FMG Suite.}